Ryman Hospitality taking full ownership of Colorado property

Ryman Hospitality Properties is preparing to shell out $210 million to buy the 35 percent of the Gaylord Rockies Resort and Convention Center it does not already own as well as 130 acres adjacent to the hotel complex near Denver.

Nashville-based Ryman Hospitality will use cash and revolving debt for the deal, which comes nearly a decade after the company (then still Gaylord Entertainment) laid the groundwork for the project by securing incentives. It’s also almost three years after Chairman and CEO Colin Reed and his team paid $242 million to grow their Gaylord Rockies stake to more than 60 percent. The purchase — $188 million for the last 35 percent of the hotel and $22 million for the acreage — is expected to close later this month.